FTX’s Japanese users will be able to start withdrawing funds from February
The FTX logo on a laptop screen.
Andrey Rudakov | Bloomberg via Getty Images
Japanese FTX users will be able to start moving their funds out of the collapsed cryptocurrency exchange starting in February, according to a statement from the company’s Japan subsidiary.
FTX Japan said Thursday it was developing a system to resume withdrawals through the website of Liquid Japan, a crypto exchange it acquired earlier this year. Customers will be able to view their balance on Liquid Japan, and then take out their funds.
“We deeply apologize for causing great concern and inconvenience to our customers due to the long-term suspension of the service,” the company said in a Japanese language blogpost on its website, which was translated via Google.
FTX Japan laid out a timeline for the restoration of customer funds, starting with opening of a Liquid Japan account in mid-January, and then transferring assets from FTX Japan to Liquid Japan and reopening withdrawals by mid-February.
It comes after FTX Japan said on Dec. 1 that it had confirmed with lawyers for the FTX Group that “Japanese customer cash and crypto currency should not be part of FTX Japan’s estate given how these assets are held and property interests under Japanese law.”
The news offers some relief for FTX customers. Clients of FTX worldwide have been unable to get access to their money since the company entered bankruptcy last month and placed a block on withdrawals. FTX’s new caretaker chief, John J. Ray III, has said the company’s international customers should expect to get less from the bankruptcy court than U.S. customers.
Founded in 2014, Liquid was acquired by FTX in February for an undisclosed sum as part of its expansion into East Asia. Prior to that, it had been hacked for more than $90 million worth of crypto in a major cyberattack. Sam Bankman-Fried’s FTX, which had styled itself as a savior of beleaguered crypto firms, then provided Liquid with $120 million of debt financing.
Separately on Thursday, the Securities Commission of The Bahamas said it had seized $3.5 billion worth of crypto assets from FTX “for safekeeping” and was awaiting direction from the country’s Supreme Court to return the funds to customers and creditors, or to liquidators.
Mike Intrator, co-founder and CEO of CoreWeave, speaks at the Nasdaq headquarters in New York on March 28, 2025.
Michael M. Santiago | Getty Images News | Getty Images
CoreWeave shares fell about 6% in extended trading on Tuesday even as the provider of artificial intelligence infrastructure beat estimates for second-quarter revenue
Here’s how the company did in comparison with LSEG consensus:
- Earnings per share: Loss of 21 cents
- Revenue: $1.21 billion vs. $1.08 billion expected
Revenue more than tripled from $395.4 million a year earlier, CoreWeave said in a statement. The company registered a $290.5 million net loss, compared with a $323 million loss in second quarter of 2024. CoreWeave’s earnings per share figure wasn’t immediately comparable with estimates from LSEG.
CoreWeave’s operating margin shrank to 2% from 20% a year ago due primarily to $145 million in stock-based compensation costs. This is CoreWeave’s second quarter of full financial results as a public company following its IPO in March.
CoreWeave pointed to an expansion in business with OpenAI, a major client and investor. Also during the quarter, CoreWeave acquired Weights and Biases, a startup with software for monitoring AI models, for $1.4 billion.
In May, management touted 420% revenue growth, alongside widening losses and nearly $9 billion in debt. The stock still doubled anyway over the course of the next month.
CoreWeave shares became available on Nasdaq at the end of the first quarter, after the company sold 37.5 shares at $40 each, yielding $1.5 billion in proceeds. As of Tuesday’s close, the stock was trading at $148.75 for a market cap of over $72 billion.
A CoreWeave data center project with up to 250 megawatts of capacity is set to be delivered in 2026, the company said in the statement.
Executives will discuss the results and issue guidance on a conference call starting at 5 p.m. ET.
This is breaking news. Please check back for updates.
WATCH: Citi’s Tyler Radke’s bullish call on CoreWeave, upgraded to buy
U.S. President Donald Trump (L) invites Nvidia CEO Jensen Huang to speak in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC.
Andrew Harnik | Getty Images
The Trump administration is still working out the details of its 15% export tax on Nvidia and AMD and could bring deals of this kind to more companies, the White House’s Karoline Leavitt said Tuesday.
“Right now it stands with these two companies. Perhaps it could expand in the future to other companies,” said Leavitt, the White House’s spokesperson.
“The legality of it, the mechanics of it, is still being ironed out by the Department of Commerce, and I would defer you to them for any further details on how it will actually be implemented,” she continued.
President Donald Trump confirmed on Monday that he had negotiated a deal with Nvidia in which the U.S. government approves export licenses for the China-specific H20 AI chip in exchange for a 15% cut of revenue. Advanced Micro Devices also got licenses approved in exchange for a proportion of its China sales, the White House confirmed.
“I said, ‘If I’m going to do that, I want you to pay us as a country something, because I’m giving you a release,'” Trump said Monday.
“We follow rules the U.S. government sets for our participation in worldwide markets,” Nvidia said in a statement this week.
Trump said the export licenses for AMD and Nvidia were a done deal. But lawyers and experts who follow trade have warned that Trump’s deal may be complicated because of existing laws that regulate how the government can charge fees for export licenses.
The Commerce Department didn’t immediately return a request for comment.
The H20 is Nvidia’s Chinese-specific chip that is slowed down on purpose to comply with U.S. export relations. It’s related to the H100 and H200 chips that are used in the U.S., and was introduced after the Biden administration implemented export controls on artificial intelligence chips in 2023.
Earlier this year, Nvidia said that it was on track to sell more than $8 billion worth of H20 chips in a single quarter before the Trump administration in April said that it would require a license to export the chip.
Trump signaled in July that he was likely to approve export licenses for the chip after Nvidia CEO Jensen Huang visited the White House.
The U.S. regulates AI chips like those made by Nvidia for national security reasons, saying that they could be used by the Chinese government to leapfrog U.S. capabilities in AI, or they could be used by the Chinese military or linked groups.
The Chinese government has been encouraging local companies in recent weeks to avoid using Nvidia’s H20 chips for any government or national security-related work, Bloomberg reported on Tuesday.
WATCH: Access to Nvidia’s H20 won’t hand China an AI advantage: Analyst
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